More Debt

There has been a tremendous amount of talk about the spending deal that was just reached in Congress. Most of the focus has been on who “won” and who “lost” politically, and if you have been keeping up with my articles you definitely know my opinion on the matter. But what nobody is really talking about is that this deal actually increases spending at a time when our debt has been absolutely exploding. We added more than a trillion dollars a year to the U.S. national debt during Obama’s eight years in the White House, and our debt binge actually accelerated toward the end of his second term. In fact, the national debt increased by more than 1.4 trillion dollarsduring fiscal 2016… (Read More...)

Did you know that the top 1% has more wealth than the rest of the planet combined? And just 62 ultra-wealthy members of the elite have as much money as the poorest 3.5 billion people on the entire planet. These brand new numbers come from a shocking report that was just put out by Oxfam, and they show that income inequality continues to grow at a very rapid pace all over the world. As you will see below, the total wealth of the poorest half of the global population has plunged by 41 percent since 2010 while the wealth of the elite has continued to surge upward. The debt-based financial system that now has the entire planet in its grip funnels wealth to the very top, and the global elite are more than happy to hoard as much of it as they possibly can. (Read More...)

Have you heard the one about the “economic recovery” in the United States? It’s quite funny, but it is not actually true. Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving. But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape. In fact, as you will see below, things just continue to get even tougher for the poor and the middle class. Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty. We are working harder, earning less and going into more debt. With each passing day, the middle class gets a little bit smaller and the ranks of the poor get a little bit larger. But at least the stock market is doing great, eh? (Read More...)

Thomas Jefferson once said that “the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” In other words, he believed that government debt was the equivalent of stealing money from future generations on a massive scale. Right now, the U.S. government is stealing roughly $100,000,000 from future generations of Americans every single hour of every single day. And it is being projected that the U.S. national debt will more than double during the 8 years of the Obama administration. In other words, the federal government will pile more debt on to the backs of our children and our grandchildren during the Obama years than had been accumulated during all of the rest of U.S. history combined. The federal government is literally destroying the future of America, and what we are doing to our children and our grandchildren is beyond criminal. If there was one thing that the Republicans in Congress were supposed to do, it was to do something about all of this debt. These days Republicans can’t seem to agree on much, but the one issue that virtually all “conservatives” were supposed to agree on was the national debt. The American people gave the Republicans control of the House in 2010 and 2012 for a reason. Unfortunately, nothing has been done. Our debt has continued to spiral out of control and now John Boehner and Paul Ryan are pushing a “budget deal” that will essentially give the free-spending Democrats virtually everything that they want for the next 10 years. That is why John Boehner and Paul Ryan should immediately resign. (Read More...)

The 25 statistics that you are about to read are solid proof that the middle class in America is being systematically wiped out. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world. It seemed like almost everyone owned a home, had a couple of nice vehicles and could provide a very comfortable lifestyle for their families. Sadly, that has all changed. In America today, prices are rising at a very brisk pace but incomes are not. There aren’t nearly enough jobs for everyone anymore, and most of the jobs that are being “created” are jobs that pay very little. The largest employer in America is Wal-Mart, and the second largest employer is actually a temp agency (Kelly Services). In a desperate attempt to make ends meet, millions of American families endlessly pile up more debt, and millions of other American families find themselves forced to turn to the government for help. At this point, more than 49 percent of all Americans receive benefits from the federal government each month. The percentage of Americans that cannot financially take care of themselves is rising every single year, and our independence is being whittled away as we become increasingly dependent on the government. Unfortunately, our politicians continue to stand aside and do nothing as our jobs are shipped overseas, inflation steals our purchasing power and the middle class continues to shrink. The following are 25 stats that prove that the American Dream is being systematically destroyed… (Read More...)

What the Republican Party has done to fiscal conservatives over the past year and a half has been a betrayal so vast that it is difficult to find words to describe it. Back in 2010, the Tea Party was riding high and a flood of new Republicans was sent to the U.S. House of Representatives in one of the greatest landslides in U.S. political history. On election night 2010, more House seats changed hands than in another other election since 1948. It was the greatest defeat for any sitting president in a midterm election since 1938. After the election, the Democrats were left with fewer House seats than at any other time since 1946. Needless to say, it was an absolutely historic election. The Tea Party completely dominated American politics that night, and they sent the Republican Party a clear message that they wanted government debt to be brought under control. So what has changed since then? Not much. The U.S. government is still running trillion dollar deficits every single year. I have previously spent a lot of time blaming Barack Obama and the Democrats for this, but the truth is that they could not have spent a single penny without the approval of the U.S. House of Representatives. So the Republican Party is complicit in this crime against the American people. If there was ever a mandate to take a stand against runaway government debt, it was after the 2010 election, and the Republican Party has failed miserably. So what are fiscal conservatives supposed to do now? (Read More...)

When most people think about America’s debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all. (Read More...)

The control freaks that run the U.S. government are busy imposing their values on all the rest of us, and most Americans have absolutely no idea what is happening. The Obama administration and members of Congress are engaged in radical social engineering, and they are trying to reshape America so that it conforms to their own twisted vision of “morality”. Instead of focusing on fixing the economy and administering the government, these sick control freaks actually want to fundamentally alter what Americans believe to be right and wrong. There is no denying that the U.S. government has a “morality agenda”, it is just not the kind of “morality agenda” that we are all used to thinking of. Sadly, our leaders are spending huge amounts of money and going into lots more debt in an attempt to impose a certain code of morality on the American people and the rest of the world. At a time when this nation is drowning in debt, it seems quite foolish to be spending so much money on radical social engineering programs. But that is exactly what is happening. (Read More...)

If you are not aware of how rapidly the global economic situation is unraveling you need to snap out of it and start paying attention. The world economy was relatively stable in 2010, but here in 2011 things are deteriorating very quickly. Right now there is major civil unrest in at least a dozen different nations in Africa and the Middle East. The civil war going on in Libya has sent the price of oil skyrocketing and the protests that are scheduled to begin in Saudi Arabia later this month could send oil prices even higher. Meanwhile, the sovereign debt crisis in Europe just seems to get worse by the day. Several nations in Europe are suddenly finding that it has become extremely expensive to finance more debt. It appears that it will only be a matter of time before more bailouts are needed. Meanwhile, the United States is also covered in a sea of red ink and the economic situation in the largest economy on earth continues to deteriorate rapidly. It is as if the entire world financial system has caught a virus that it just can’t shake, and now it looks like another massive wave of financial disaster could be about to strike. Does the global economy have enough strength to weather a major oil crisis in 2011? How much debt can the largest nations in North America and Europe take on before the entire system collapses under the weight? Will 2011 be a repeat of 2008 or are we going to be able to get through the rest of the year okay? Only time will tell. (Read More...)